No. of Recommendations: 3
A self employed person has many options. The best (largest contribution)
would be a 401K/profit sharing plan. Assuming they have enough income,
they could contribute $ 16,000 (if over 50) plus roughly 20% of their net
self employed income (for 2004 - this number will increase as employee 401K
plans will to eventually $ 20,000). I have a plan like this through
Fidelity. This would not interfere with their Roth IRA contributions of
$ 3,500.
:>) Norm
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